§ Mr. Nottasked the Chancellor of the Exchequer why there is no longer any reference to the changes in the financial position of the Exchange Equalisation Account in the new monthly Press release on central Government financial transactions in contrast to the procedure followed in the former Press releases setting out transactions of the Consolidated Fund and National Loans Fund; and whether he will now take steps to resume the publication of this information.
§ Mr. Denzil DaviesThe new Press Notice gives information regarding the progress of the central Government borrowing requirement nearly a month earlier than was previously the case. Changes in the gold and foreign currency reserves held by the Exchange Equalisation Account are also published 509W at monthly intervals within a few days of the end of each month. Transfers of sterling between the National Loans Fund and the Exchange Equalisation Account have no effect on the calculation of the borrowing requirement or on its financing, and this information has, therefore, been omitted from the new Press Notice. I see no need to resume its publication on a regular basis, although the information will be made available on demand. Between 1st April and 31st October 1976 a net total of £700 million was transferred from the Exchange Equalisation Account to the National Loans Fund.